Short-Term Borrowings

6 Months Ended

Jun. 30, 2025

Short-Term Borrowings

Short-Term Borrowings

8. Short-Term Borrowings

At June 30, 2025 and December 31, 2024, short-term borrowings were comprised of the following:

(dollars in thousands)	June 30, 2025		December 31, 2024
Short-term FHLB fixed-rate advances(1)	$	250,000	$	250,000
Total short-term borrowings	$	250,000	$	250,000

(1) Interest is payable monthly.

As of June 30, 2025 and December 31, 2024, the Company’s short-term borrowings consisted of a $250.0 million short-term FHLB fixed-rate advance with a weighted average interest rate of 4.16% maturing in September 2025. The FHLB fixed-rate advance requires monthly interest-only payments with the principal amount due on the maturity date.

As of June 30, 2025 and December 31, 2024, the Company had a remaining line of credit of $2.7 billion and $2.8 billion, respectively, available from the FHLB. The FHLB borrowing capacity was secured by commercial real estate and residential real estate loan collateral as of both June 30, 2025 and December 31, 2024. As of June 30, 2025 and December 31, 2024, the Company had an undrawn line of credit of  $3.4 billion and $3.0 billion, respectively, available from the FRB. The borrowing capacity with the FRB was secured by consumer, commercial and industrial, commercial real estate, residential real estate loans and pledged securities as of both June 30, 2025 and December 31, 2024. See “Note 6. Transfers of Financial Assets” for more information.

	Six Months Ended June 30,
(dollars in thousands)	2025			2024
Short-term FHLB fixed-rate advances:
Weighted-average interest rate at June 30,		4.16	%		4.71	%
Highest month-end balance	$	250,000		$	500,000
Average outstanding balance	$	250,000		$	500,000
Weighted-average interest rate paid		4.22	%		4.79	%